Dragon Oil, a subsidiary of Dubai state-owned Enoc, is set to provide a 15,000 b/d boost to its Egypt output, all of which is situated in the offshore Gulf of Suez, the firm says. Dragon says output from the North Safa field will start up at an initial 8,500 b/d in October before ramping up to 15,000 b/d in the new year. The field was discovered in early 2022 and heralded as the largest discovery in the well-worked Gulf of Suez for 20 years (MEES, 18 February 2022).
This should boost Dragon’s Egypt output from 55,000 b/d currently to 70,000 b/d. In January Salah Abdel Kareem, chair of Dragon’s Gupco JV with Egypt state oil firm EGPC outlined spending of $588mn to drill 11 exploration and development wells for the 2023-24 financial year (from 1 July 2023). (CONTINUED - 253 WORDS)